Defining and Quantifying the Wellbeing Economic Approach

Many critics of wellbeing economics argue that wellbeing is a subjective measure. Our answer to this is the Scotianomics Wellbeing Index. • The Scotianomics Wellbeing Index measures nations across five dimensions of wellbeing. Each dimension is composed of sub-measures which are summed together to give a dimension score. The dimension scores are then averaged to give each nation an overall Wellbeing score. • This allows for easy comparison between nations and for policymakers to quickly understand in which dimension of the wellbeing economy their nation is failing.